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What is a Bitcoin mine?

2 min reading

Probably everyone has heard about bitcoin. It is the most popular cryptocurrency in the world. Bitcoin can be bought on exchanges or mined by yourself. In slang related to the cryptocurrency industry, In very simple words this means that when you have a super computer with very high computing power, you can generate bitcoins yourself.

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What is a Bitcoin mine?

To cope with bitcoin mining, however, you need a really great quality computer. This is why there are places called mining pools. People who want to earn money together by mining bitcoins join the forces of their machines, or computers, to generate more calculations in this way. How to assemble a cryptocurrency miner? What you really need is an investment in very good quality equipment. There are many indications that Bitcoin mining is the most expensive. to buy the right computer, you need to invest even several thousand zlotys. You can also do it on ordinary equipment, but then it is more of a hobby than an idea for real earning. Still, it's always worth a try, as it is one of the skills that may come in handy for the future.

Bitcoin mine - profitability

For a bitcoin mine to make sense, even several dozen individual computers must cooperate with each other at the same time. All this generates a lot of costs related to power consumption. Computers have to work practically day and night. Due to rising electricity prices, very often it is no longer profitable at all. Therefore, many mines were closed by people who once started this business.

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